Cornerstone Wealth Management LLC Acquires 2,896 Shares of American States Water Company (NYSE:AWR)

Cornerstone Wealth Management LLC lifted its holdings in shares of American States Water Company (NYSE:AWR) by 6.1% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 50,320 shares of the utilities provider’s stock after purchasing an additional 2,896 shares during the period. Cornerstone Wealth Management LLC owned about 0.13% of American States Water worth $3,959,000 as of its most recent filing with the SEC.

Other large investors also recently added to or reduced their stakes in the company. Public Employees Retirement System of Ohio bought a new stake in American States Water in the fourth quarter valued at approximately $26,000. Federated Hermes Inc. raised its holdings in American States Water by 92.5% during the 4th quarter. Federated Hermes Inc. now owns 439 shares of the utilities provider’s stock valued at $34,000 after buying an additional 211 shares during the last quarter. Blue Trust Inc. boosted its position in American States Water by 367.3% during the 4th quarter. Blue Trust Inc. now owns 500 shares of the utilities provider’s stock valued at $42,000 after buying an additional 393 shares during the period. Plato Investment Management Ltd boosted its position in American States Water by 2,173.9% during the 4th quarter. Plato Investment Management Ltd now owns 523 shares of the utilities provider’s stock valued at $41,000 after buying an additional 500 shares during the period. Finally, Jones Financial Companies Lllp grew its holdings in American States Water by 198.9% in the 4th quarter. Jones Financial Companies Lllp now owns 541 shares of the utilities provider’s stock worth $42,000 after acquiring an additional 360 shares during the last quarter. Hedge funds and other institutional investors own 75.24% of the company’s stock.

American States Water Stock Performance

Shares of AWR stock opened at $77.52 on Wednesday. The firm has a market capitalization of $2.99 billion, a price-to-earnings ratio of 23.85, a PEG ratio of 4.17 and a beta of 0.62. The stock has a fifty day moving average of $78.73 and a 200 day moving average of $77.46. American States Water Company has a 52 week low of $70.03 and a 52 week high of $87.50. The company has a quick ratio of 0.76, a current ratio of 0.81 and a debt-to-equity ratio of 0.83.

American States Water (NYSE:AWR) last posted its earnings results on Wednesday, May 7th. The utilities provider reported $0.70 EPS for the quarter, hitting the consensus estimate of $0.70. The firm had revenue of $148.01 million during the quarter, compared to analysts’ expectations of $142.00 million. American States Water had a net margin of 20.22% and a return on equity of 13.45%. The company’s quarterly revenue was up 9.4% compared to the same quarter last year. During the same period last year, the company posted $0.62 EPS. As a group, research analysts expect that American States Water Company will post 3.34 earnings per share for the current year.

American States Water Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, June 3rd. Shareholders of record on Monday, May 19th were issued a $0.4655 dividend. The ex-dividend date was Monday, May 19th. This represents a $1.86 annualized dividend and a yield of 2.40%. American States Water’s dividend payout ratio (DPR) is presently 57.23%.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on AWR shares. Wall Street Zen raised shares of American States Water from a “sell” rating to a “hold” rating in a research note on Saturday, March 8th. Wells Fargo & Company upgraded American States Water from an “underweight” rating to an “equal weight” rating and boosted their price target for the company from $76.00 to $84.00 in a report on Thursday, May 8th.

Insider Buying and Selling at American States Water

In other news, Director Thomas A. Eichelberger acquired 897 shares of the stock in a transaction on Friday, June 6th. The stock was acquired at an average price of $76.81 per share, with a total value of $68,898.57. Following the completion of the transaction, the director now owns 8,467 shares of the company’s stock, valued at $650,350.27. This represents a 11.85% increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Insiders own 0.83% of the company’s stock.

About American States Water

American States Water Company, through its subsidiaries, provides water and electric services to residential, commercial, industrial, and other customers in the United States. It operates through three segments: Water, Electric, and Contracted Services. The company purchases, produces, distributes, and sells water, as well as distributes electricity.